We have been posting for a while on the insurance industries’ ongoing practice of systematically denying valid claims. This problem is across the board, including automobile insurance, home owners insurance and health insurance. Finally the U.S. Congress may be waking up to the problem.
The NY Times reports today that:
The top-ranking Republican on the Senate Finance Committee has asked 11 long-term care insurance companies to explain “troubling data” regarding how policyholders’ claims are handled and paid.
This particular inquiry addresses the systematic denial of long term care insurance policy claims. You know the ones the insurance companies urge you to buy in the wide ranging advertising campaigns that try to scare the bejeezus out of you hinting that you’ll wind up sick and homeless if you don’t have their policy. Just another con.
The Times article credits Iowa Republican Congressman Charles Crassley for initiating the inquiry. My hat goes off to any member of congress willing to stand up to the all powerful insurance lobby. You certainly don’t get that kind of concern for people getting bilked by insurance companies from the White House.